Overview
- The 2.5-acre Coral Caye, eight miles off Belize’s coast, sold for about $1.8 million after Coppola’s nine-year lease concluded.
- Coppola’s agent said he was very sad to see the lease end on the island, which he visited regularly and considered special.
- During his tenancy, Coppola built two residences and a pier and outfitted the property with solar panels and water tanks.
- A Guatemalan businessman has taken over the lease and is planning to expand Coral Caye into a larger resort within roughly 18 months.
- Coppola invested about $120 million to make Megalopolis, which grossed roughly $14.4 million worldwide, and he has moved to raise funds by selling assets including high-value watches after previously selling wineries.